6 Find a program by guest, # or category
6 Category IndexFind a program by guest, # or category
6 Series IndexFind a program by guest, # or category
Kindred Spirits
Public Radio Shows
Special Packages
Walking through the Storm
6 Information
About Humanmedia.org
About the Producer
Shipping and Returns
How You Can Help
MP3 Troubleshooting
Listen to our Podcast
Podcast: More information
Conditions of Use
What's New at HumanMedia.org
Frequently Asked Questions
Contact Us
The Philosopher of Finance with John C. Bogle[Program 207]
The Philosopher of Finance with John C. Bogle

"We have a misshapen financial system, where the rewards are grotesquely disproportionate to the contribution to their society. So you could argue, and I think probably successfully argue, that much of what goes on -- you could even say most of what goes on -- in finance is a waste of the nation's resources. It is a value-consuming, rather than value-adding business."

-John C. Bogle, Founder of Vanguard,author of 'The Clash of the Cultures'

John Bogle upsets many titans of Wall Street, when he harshly criticizes what he views as their greed and waste. And yet Bogle is also a highly respected voice of finance. He invented the "index fund", which merely attains the stock market average -- an idea for which he was widely ridiculed. But Bogle was undeterred, having realized as a college undergraduate that most mutual fund managers underperform even the average. So with little effort (and therefore low expenses) his method has become the core strategy for people who wish to grow their savings. Even super-investor Warren Buffett announced that upon his death, almost all of his billions will be deposited in an index fund. Vanguard, the family of funds Bogle founded in 1974, now manages trillions in assets, primarily through this deceptively simple technique. And in his gentlemanly manner, Bogle offers a devastating critique of high finance in this episode of Humankind.

Total time: 29 Minutes

Play MP3Hear free excerpt

Order online now
Audio CD ($14.95)
Audio MP3 ($4.95)
Order now   MP3 SALE: usually $6.95

Humankind: Other programs

6 We also recommend:
Checks and BalancesChecks and Balances
At a time when polls consistently show most Americans believe our country is "on the wrong track," this one-hour documentary examines the remarkable system conceived by the Founders to restrain excess in democracy
Income InequalityIncome Inequality
We consider the dramatic increase in income inequality - now at levels that preceded the Great Depression - and how this wealth gap relates to a host of conditions, from personal illness to incarceration.
Mindful Learning with Congressman Tim RyanMindful Learning with Congressman Tim Ryan
While Capitol Hill may at times seem like the last place to find contemplative reflection, Ohio Congressman Tim Ryan has emerged as an advocate of daily periods of silence and meditation for personal growth and as a learning tool for schoolchildren.
Reversal of Fortune with John RobbinsReversal of Fortune with John Robbins
Having lost almost everything in the Madoff scam, best-selling author John Robbins tells how in "an age of less" he had to step back, reassess what's important and build a new, more fulfilling life.

Share on Facebook and help spread the word about Humankind Public Radio!